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would love to, thank you. >>> greece has become the gateway to hundreds of thousands of migrants to enter the country, many of them muslims. athens remains the only eu capital without unofficial moscow. now there are plans to build one next year. will the bankrupt companies -- will the bankrupt country have trouble delivering? >> underground, crowded, a legal, the place of worship for muslims and athens. dozens of these poor rooms serve be a huge community. -- dozens of these prior rooms serve out a huge community. >> we respect all religions, but they did not have the respect of our muslims to provide as a regular, legal mosque for our workshop. >> the shadow of a now distant past. no mosques have been built in athens since christian greece gained independence in 1832, the omi e.u. capital without. but could that change? this was the site chosen for the first mosque. but previous promises have come to nothing in there is a financial crisis. >> there was a fear in the greek society about the construction of a mosque. we must overcome these fears. it is the commitment of the greek
. italy, spain, portugal, greece and ireland, hungry are in terrible shape. serious terrible shape. and because some folks don't pay attention to numbers, here's a chance for a statistic to help. students of mine, professors who came to the united states to study the universities where i taught. now professors at the university of acton, major universities increased. today their salaries as we speak are 40 percent less than what they were in may of 2010. try to imagine yourself in a job that you've kept in which the money you get every week is 40% less. police, fire, school teachers, social workers, you name it. .. governments in france and germany have been very frightened since they too are facing an economic crisis and they too are trying to solve it by making demands of their people to pay for something we come in to. they have chosen to use a very dangerous strategy particularly warm germany and the strategy goes like this. we the government are your friends, you the german working-class, because we are not going to allow you to be made to pay for those lazy southern european
the political crisis. >>> while in greece they held off protesters launching molotov cocktails. >>> the president is taking the fiscal cliff solution to the people. plus, a modern day five story ripped through the pages of a tom clancey novel. "early today" starts right now. >> announcer: this is "early today" for friday, december 7th, 2012. >>> good mornings,er one. i'm lynn berry. we're going to start with breaking news out of japan. a strong 7.3 earthquake has struck off the country's northeast coast beneath the sea bed. it shook buildings as far as tokyo and warnings were issued for miyagi prefecture. there's no risk for a widespread tsunami. we'll bring you the very latest. >>> elsewhere, all eyes are on cairo this morning as turmoil has once again overtaken egypt's capitol, this time in response to a political explosive power grab by the president, mohammed morsi. right now army tanks surround the presidential palace as thousands of protesters shout topple the regime, the same chant heard during the regime of hosni mubarak. in a tv show morsi said absolute powers he grant
story. that i would love to, thank you. >>> greece has become the gateway to hundreds of thousands of migrants to enter the country, many of them muslims. athens remains the only eu capital without unofficial moscow. now there are plans to build one next year. will the bankrupt companies -- will the bankrupt country have trouble delivering? >> underground crowded, a legal, the place of worship for muslims and athens. dozens of these poor rooms serve be a huge community. -- dozens of these prior rooms serve out a huge community. >> we respect all religions but they did not have the respect of our muslims to provide as a regular, legal mosque for our workshop. >> the shadow of a now distant past. no mosques have been built in athens since christian greece gained independence in 1832 the omi e.u. capital without. but could that change? this was the site chosen for the first mosque. but previous promises have come to nothing in there is a financial crisis. >> there was a fear in the greek society about the construction of a mosque. we must overcome these fears. it is the commitment of
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it from becoming greece. the game you're talking about is small ball. you're talking about raising the ceiling for 11 days. how about doing something big these not liberal. every idea is a liberal idea. how about manning up, mr. president and use your mandate to bring this country together to stop us from becoming greece. >> man up. with jim demint leaving, a new poll shows who they wants a his replacement. put your votes in. a very funny south carolinian. the one and only stephen colbert. the comedian miami tops the list. this is an honest poll. 20%. tim scott comes in second. colbert addressed the speculation around his potential candidacy on his show last night. >> there's already a twitter page, facebook, draft colbert website. i can tell you having done a show with him in charleston, he's an absolute rock star in that state. >> yes, i am a rock star in south carolina and not just because i ended my rally there with herman cain by biting the head off a dove. now, my network contract prohibits me from taking on another full-time job, so the sfl senate would be perfect. >>> south
't like them to save the country from becoming greece but i'm not going to set aside the 1.2 trillion in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made as soon as. to my republican kcolleagues, te the ronald reagan model is if you get 80% of what you want, that's a good day. i lime simpson-bowles. the president is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the public from a tax hike that, is not a tax increase in my book. chuck, maybe you and me and some other people in the senate can find a way to find this on the short term but on the long term there's not going to be a deal any time soon. >> you think we're going to go over the cliff? >> i think we're going to fall out of the fiscal tree. the big chance at the big deal is at the debt ceiling. that's when we'll have leverage to turn the country around, prevent from becoming greece and save social security and medicare. to anybody listening
real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term deal. it doe't get recovery. >> we're going to get a bandaid deal an
in new york city. trek through the himalayas for $400. explore the secret gardens of greece. these are all with locals. what these companies are doing, they're enabling people who have jobs that they love and they have different hobbies to actually make money by showing this to other people. i spoke with all the entrepreneurs that started these companies and they kept saying happiness is about the memories, something can you give on the holidays. >> anything involving food is okay with me. thank you very much, lori. >>> you've probably been hearing christmas music for a few weeks now. but you probably haven't heard this. the beautiful sounds of celtic woman. these singers have something special. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. [ tylenol bottle ] me
with lots of them. >> stephen: no, nenyar. the balaor greece, mi beating gandalf the grey. >> are you. and let's not get on to magneto. >> stephen: are you ever tempted when you were like, when are you playing gandalf and the orcs are coming at you are you attempted to use that magneto power and take their swords from them. >> no, gandalf is more powerful than magneto. >> stephen: could gandalf beat magneto. >> yes, every time. the old guy will do it every time, he is 7,000 years old. he knows it all. i love gandalf the grey. i love him. >> stephen: and i love you,
'll lose everything we know as america if we don't fix entitlements. we're becoming the greece of out-of-control spending. [ ♪ dramatic ♪ ] >> it in no way does that. >> stephanie: shut down that argument. the spending graphs of who -- >> nonsense. >> also, greece is falling apart because of the austerity programs implemented by the inf and the world bank. >> stephanie: we have references on that. they're wrong wrong wrong on everything. [ wah wah ] >> stephanie: i'm flabbergasted how wrong they are. 17 minutes arrive the hour. you know what else flabbergasts me? being able to carbonate soda in 90 seconds. >> my friend had a soda stream. i got to do it. it is amazing. >> did you karate chop? >> no but it is amazing seriously. >> stephanie: you're such a sad little man. >> i don't get out much! >> stephanie: new way to enjoy great-tasting soda made fresh at home. >> i'm flabbergasted. >> stephanie: flabbergasting how good it is with bourbon. you can make it fresh at home. everybody loves a soda s
't become a country that looks like greece. [talking over each other] gregg: capitol hill and pennsylvania avenue, maybe they just think 16 trillion, 25 trillion, who cares. maybe they don't think it has a depressive effect on economic growth, and soaking up the credit markets, which women's businesses. >> that's exactly right. we don't have to wonder what this will go by. all we have to do is look over the pond and see what's happening in countries like greece and italy and spain and ireland have these massive debt. now we cannot repay them, massive interest-rate increases, you and i have talked about this before. but shame on us for not realizing that we stay on this path, we are in real financial trouble. gregg: stephen moore, economics writer for "the wall street journal." on her way to the fiscal cliff. thank you very much. heather: russian president vladimir putin accused of playing politics with the lives of orphans. signing a bill banning americans from adopting russian children. bad news has left dozens of american families heartbroken. amy kellogg is live in london with details.
of diplomacy helped broker a cease-fire. number three, in europe greece was the problem child that spent too much, save nothing and threatened to take down the euro. new leadership didn't stop constant violent protests, staged by those facing loss of jobs, pay cuts, higher taxes as their weary government begs for more cash. europe's leaders including the new french president committed to save the euro. it lives on, but for how long? number two. the deadliest month to date as the assad regime intensified its use of air power. >> one of the questions most asked in 2012, was how much longer can this man hold on to power? assad was under intense pressure to step down. but his regime stepped up the fire power against the opposition. civilians caught in the crossfire. more than 40,000 people have died so far. >> this is, yet, another bread line. >> the opposition fights on making more dramatic gains than ever and gaining pledges of additional support for the international community. number one -- she fought back from the brink of death after being attacked on a school bus. the taliban shocked. she
comes up over the year. liz: worried about greece and ireland and portugal, and italy, spain, then the election. go back to the primaries. what will happen with the primaries, then election, then fiscal cliff. it's always something. all you really saw if you look at one are to your charts of the s&p, dow, you name it. not exactly a straight shot, but it was a rally. people sitting on the sidelines terrified, shaking their hands saying we are not going to buy. look at the far left. now where we are today, you're looking at what some of you out there miss because you were scared. how did you convince people there is more room to run normally you don't believe that? >> for us it is very much business. with respect to these various crises are fears of the fiscal cliff for the election are what have you that the rate -- create uncertainties in investors' minds, it's often better to adjust to now. ridge example is the election. in early november right after words two weeks later, 11%, markets is just grew up. be classy about this. event guess what. yesterday or the day before we we
seem like an emerging market economy here. >> are we greece? >> our politics are becoming as dysfunctional as greece. i mean, we're not greece, but if you look at what businessmen say about why they're not investing in the u.s., they will often give dysfunctional politics in washington as the top answer. it's not even tax rates that people are concerned about. it's just getting a deal, getting people aligned. >> we're going to roll some tape, but i just wanted to ask you quickly, last week your sort of advice to republicans was don't cave, compromise. >> right. >> so this week, given what we've seen so far, we see these one-on-one negotiations taking place, what do you think the best strategy on the part of the republicans is? >> don't cave. compromise. you're not going to get 35%. you're just not going to. you're not going to. the economy will go up in flames. you're just not going to get 35%. the president needs to understand he's not going to get 39.6%. if i were sitting in the house and the president asked me to go four, five percentage points up on tax rates right now
they agreed to give greece now within days 34 billion euros. they've done a deal where the ecb will regulate the biggest banks in europe and, importantly, the germans will be exempted, state run banks, savings banks. so the skeletons can stay in the german closet there as far as the banks are concerned. that was important for the germans. it is ironic in a year when so many people called for a breakup the european union this summit, poland actually said we'd like to start off applications to become the 18th member of the eurozone. that will play out during the course of next year. as far as the stock markets are concerned, today is relatively flat overall. no follow through from china which i mentioned earlier. i thought it was very interesting. here you go. >> the european markets are closing now. >> some are red. some are green. if you check the data you'll see we haven't really moved at all today. china was up 4%. shanghai was up 4% overnight. normally you would expect the australian miners, global miners listed in london to bounce on that. they didn't very much today. and that is partly
to become like greece. what's driving off the fiscal cliff make us look like? it makes us look completely irresponsible as if we can't control our own spending and put in order some priorities. >> so there will be some real health care suffering if we go off the cliff, so to speak? >> that's absolutely true. i would say the other important thing we need to do, we want to incentivize doctors an hospitals to keep people well. not to just do procedures. and that is the key to really transforming medicare. >> all right. i want to show you a map of the states that are refusing to implement the insurance exchanges. it's rather interesting. the other states are either implementing the exchanges or haven't decided to do that. if states don't decide to do it and the federal government comes in and sets up the exchange, isn't that kind of a win for the move toward universal health care someday because that infrastructure will be there? >> well, i think it provides people an option whether governors are refusing or not. that's the most important thing so they can get access to good insurance product
of greece. what is to blame there? too much austerity or too much taxation? we'll look at the problems inside his own party, for speaker boehner. it's friday. that means the lightning round with the panel. "special report" from washington starts at 6:00 eastern. now back to new york and "the five." ♪ ♪ >> bob: kay. there is music for you. on december 3 last year, 16-year-old tyler alfred from oklahoma was driving under the influence and crashed his pickup truck killing his passenger and friend 16-year-old john luke. he pleaded guilty to first degree man slaughter in august. in the muskogee county -- it's oklahoma, district judge mike norman he sided not to give him -- decided not to give him jail time. but order to attend church regularly for ten years. i have several thoughts but let you start. eric, what do you think? >> eric: this is tough. blood alcohol is .6 or .7. double the legal limit. there are other issues. not just attend church. he has to graduate high school and graduate welding school and testing going forward. on the other hand he is 17-year-old? yeah. 17 years old.
. my grandfather came here from greece. he opened a restaurant, the american dream. >> but he taught himself english. he taught himself to read the newspaper, and he became a very successful businessman. as he would say, only in america. youngstown was prosperous, and downtown youngstown was really prosperous. it was wonderful to go to downtown youngstown and be all dressed up in gloves and hat and going in and out of the shops and having lunch downtown. it was exciting. >> but that prosperity didn't last. youngstown ohio was the manufacturing backbone of this country but starting the late 1 1970s, the steel mill started to close, kicking this proud town in the gut. entrepreneur magazine named it one of the top ten best cities to start a new business. that's something that would have been unthinkable just a decade ago. >> it's a wireless device to allow students in the classroom to communicate with teachers. highly skilled, highly qualified people from a lot of good universities and colleges in the area, we were able to pick the best and brightest of for good paying technology jobs.
't going pay its debts. we are going to be like greece. that was -- everybody -- both sides, by the way, republicans and democrats, both used the phrase default. you know perfectly well how it works in the government. you can make choices. >> i hate to break the news to you but -- i don't think anyone other than watching cnbc anyone actually cares and nobody believes the federal government will not pay social security or other debts. >> are you kidding me? i think they do. that's what they start with. right? start with the social security checks aren't going to go out. then -- what do people do, call their congressmen? the elderly get frightened. they think they won't have their weekly paychecks. >> this would not be the first time anyone from the executive branch tried to scare senior sit sense what do we do? we are going over the cliff. do you think we are going over cliff? >> i talked to the speaker's people today. bottom line is the speaker did remarkably smart. he didn't bring his bill up because he didn't have the votes and then sent every one of his members home so they could not
. greece and spain. liz: jeff looks like he's about to damage you. go ahead, jeff. >> are well, you know, they're going to make a deal in washington. i lived inside the beltway, have a pretty good network inside the beltway. cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good call on the housing stocks, and they outran their valuations on a short to intermediate-term basis. they downgraded them about two months ago. liz: okay, so where's the money? show it to us. >> i like just about ever
at the pace it has been growing. we do have an advantage that greece does not have. we print the world's money. we cannot expect the dollar will be keen to tomorrow. -- forever. if the europeans can manage their deficit and we cannot, the world will switch to euros. there is a tweet here -- guest: the cbo is supposed to be a political, but it cannot be too alarmist. if we go over the cliff, we are looking on january 1, some of this is already milton. about $600 million -- $650 billion in spending cuts and tax increases. that is about 4% of gdp. that is an enormous negative stimulus. a detraction from demand. that would surely be a deep recession. the cbo relies on simulation models that did not take into consideration investor sentiment, the reaction of consumers, and so forth that they wholly lose confidence in their government. if we go over the cliff and stay there, people will start to conclude that washington cannot manage its affairs. all bets are off on economic modeling. it is impossible to say what happened that other than it would be very negative. host: one piece that you actually d
becoming greece. >> today, despite the president being in hawaii, the fiscal cliff is still on the agenda. kristen welker is with the president in honolulu. good day to you, kristen. what are you hearing there? >> reporter: alex, good morning to you. white house officials say this is very much a working vacation, no word if president obama has actually spoke on the congressional leaders at this point. i can tell you that conversations are going on at the staff level. but the reality is that the hard work, the final touches probably won't be put on these bills or this bill, rather, that they're hoping to get until lawmakers, the president, return to washington. and of course that won't happen until after the christmas holiday. this has a lot of people worried, alex, because as you say there's not a lot of time left to get a deal done. president obama, house speaker john boehner, were very close to getting a deal. president obama had given a little on entitlement reform, house speaker john boehner had given a lit until terms of agreeing to increase taxes. but they just couldn't get to the f
with angela merkel insistence on an austerity for greece, spain, italy? >> austerity? yes. there is no way you can do without problem with those various sponsors and sustainably go with the quid pro quo. but to do that to maintain austerity to be bailed out. over the indefinite period. this is where the rubber hits the road. where you need very disciplined policies and willingness to lend on the part of the creditors. they don't trust the borrowers who do not trust but they do for a few months. [inaudible] then a few months later so a little more discipline and a little more money. they said the vote provide the my a plan. but behind all of this side believe there is the enormous sense of commitment probably just in the part of the republic. i almost cannot imagine. and what would happen under this situation in? but with the conviction we've tried hour best but traditionally you cannot kick them while they are down. and a stand but the problem with the european union fed is monetary union's as opposed to the fiscal union. they benefited from the low interest-rate and that meant they allow the
've accomplished very little in terms of not becoming greece or getting out of debt. this deal won't affect the debt situation heather: welcome back. investigators are examining the black boxes in the deadly plane crash in russia. amateur video capturing it on tape. now we're learning at least five people died and three others were badly hurt. the plane took off from an airport near moskow. it landed on a highway before breaking pieces and catching on fire. gregg: new videotape shoug house majority leader eric cantor arriving at capitol hill. he really didn't say much of anything. he was asked what's going on, is there a deal? he basically said, happy new year, happy new year, happy new year three times. and the senate is not convening until about 11:00 a.m.. it may not be officially reconvening but just meeting. that was the time that harry reid said it would happen. tony sayegh, former press aide to gop vice-presidential nominee jack kemp and national political correspondent for talk radio news service. kirsten powers, columnist for "the daily beast" and fox news contributor. questions te
in europe, greece was the problem child that spent too much, saved nothing and threatened to take down the euro. new leadership, pay cuts, higher taxes as their weary government begs for more cash. committing to save the euro. it lives on, but for how long? >> the deadliest month to date as the assad regime intensified its air power. >> how much longer can this man hold on to power? bashar al assad was under even more intense pressure to step down but his regime stepped up the fire power against the opposition, civilians caught in the crossfire, more than 40,000 people have died so far. >> reporter: this is yet another bread line. >> the opposition fights on, making more dramatic gains than ever and gaining pledges of support from the international community. number one, she fought back from the brink of death after being attacked on a school bus. the taliban shot malala yousafzai. she survived, wake up in a british hospital and, according to her father, immediately asked for her school books. the world was gripped, moved and inspired by the story of one determined young girl facing do
to the internet, we met a few. 16-year-old cristos lives in greece and has taken more than five different computer courses. >> i now know what i want to study at university and what i want to do in my life. >> reporter: 22-year-old from kazakhstan got a job with twitter after taking artificial intelligence. >> you can gain all the top knowledge from a top university. >> reporter: in northern virginia, 14-year-old sophia and her mother, laura, have completed a variety of classes. >> you can sit on your couch in your pjs and learn about any topic that interests you. >> reporter: do you have a sense of what grade you would give yourself? >> probably an a minus. i'm a little rusty. i don't know about you. >> i would give myself an a plus. >> reporter: back at the university of pennsylvania, poetry professor says opening his class has changed his whole feeling about teaching. >> i like it because i get to teach people all over the world. they're self selective. because they're not getting credit at the moment and it's free, they come because they're interested in my topic, which is modern poetry. >> re
seven early movers for you, high profits, but less money coming in in the packaging company, greece it's called. what's with the stock? it's up about 4%. the rare earth mining company molycorp ousted its chief executive officer. it's down a little. profits disappointing seismic equipment maker geospace, down and dupont buying back a billion dollars worth of its stock and it's up just a little. health insurer aetna expects higher profits next year, it's up. and microsoft has wrapped up production of its new surface tablet and it, too, moving higher in the early going, i own some microsoft stock. netflix says it needs many more subscribers to be profitable. nonetheless it's up. dow industrials are up 37. and news from berkshire hathaway coming in and it's-- okay, they've bought back 9200 of their class a shares from the estate of one of their shareholders. so they bought back 9200 shares there, the class a stock. that was the news, part of the news on which the halting of berkshire hathaway was based. okay? when they start trading again, nell pretty soon, we'll get a quote for you on tha
with greece. the buyback has gone through. they've raised over 31 million euros -- billion euros at face value. it would appear they had to pay more to get the debt off the u.s. hedge funds and the greek banks and everybody else. therefore they're short by about 450 million euros on their targets. eurozone conference call is about to start with the finance ministers to sort out exactly what they do. in general terms around europe today there is optimism. you'll see that in this close. europe shutting down. >> the european markets are closing now. >> remember yesterday and all that concern we had about where italy might go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as
. this morning, they agreed finally on the disbursement of aid to greece. some says it removed uncertainty. other investors, not so sure. i wanted to show you the italian curve, italy and spanl wrapping up their fund-raising for the year. their auctions weren't all of that huge, but we are seeing yields fall, prices rise across the board as investors did show up. if we flip over to spain in particular, we can take a look at the three-year over here. a bid to cover ratio of 4.8%. one indication certainly of the kind of indications there are where the ecb is expected to be the most active if and when these countries have to access their bailout programs. now we're seeing prices in spain sell off a little bit. the ten-year, just under 5.4% is the level there. for the longer dated papers, investors are a little bit more wary. now, that news coming out of the euro group meeting, i wanted to show you the euro/dollar as we wrap up today's global market support. it's still down .1%, 1.3056. that would tell you that the resolution is largely priced in. now as focus moves into the start of next year, a cou
of greece. we saw these up in the range of better than 8% earlier. now in the range of 5% to 8%. again, if you look at the levels, you see we're snapping up from low valuations generally speaking. it doesn't take a lot at 63 cents to get an 8% move. >>> quick look over here if you want to take a shot of the wall behind me. it is green for the most part. and greece's borse is one adding 2% today. we're seeing that reflected across the bond space. portugal for example seeing ten-year yields falling. same for spain and italy. the boreses and footy 100, the xetra dax, this has been the outperformer up in the range of 30%. another .3% after the ifo out of germany. came in better than expected. again, a good sign for growth. not necessarily, though, for those who would like to see a weaker europe. the ibex 35 adding 1.3%. and the nikkei, as you mentioned, up above 10,000 for the first time in eight months. adding 2.4%. better hope the moves in the japanese government or bank of japan pan out. we'll get the bank of japan's decision tomorrow. but this comes on the day when, remember, it's on t
. but it's not working in greece. i heard a great saying that says when time gets tough, everyone is a keynesian. turn off the tv. not c-span of course. but turn off the news channels that are just cramming this stuff, and get involved in this before you formulate an opinion. i think we would be voted into office smarter, better people that are not tea party extremists. how about if on the democratic side grover norquist had said never cut any spending? i'm going to sign a bill that says never cut and spending. grover norquist, here's a great example, he does not even believe in economic case multipliers. host: gary says -- guest: what's interesting about the last election cycles is we had under president bush and the end, democrats seized control of congress in big numbers. and we had the big democratic sweep with the white house in 2008. 2010, republicans came sweeping back. we've had a pendulum swing, very contractive time period. that's one of the factors. we have seen both sides really dug in because they don't know where the pendulum will swing in the next direction. -- ekle
of becoming greece. >> the president's aides not surprisingly quickly rejected the plan which republicans say would bring in $800 billion in higher tax revenue without raising rates. white house communications director said, quote, it actually promises to lower rates for the wealthy and sticks the middle class with the bill. press secretary jay carney said mr. obama is determined to phase out the bush administration tax cuts for families making more than $250,000 a year. >> he will not sign a bill that extends those tax rates for the top 2%. we can't afford it. it is not a wise economic policy or wise fiscal policy. and it would defeat the principle of balance that he has embraced. >> so with less than a month to go before the deadline, we've now had an offer and a counteroffer, but arguably, no real attempt at compromise. democrats say republicans haven't detailed how they would increase tax revenue and they haven't offered enough of it and republicans say democrats haven't agreed to serious entitlement program cuts. steve, gretchen, brian? >> steve: thank you very much, live from the north
as they have. >> what we're seeing in greece is what's happening in detroit. austerity cuts. >> we're seeing a big bailout -- >> right. >> starting with the auto industry. the white house is giving money for new police stations, homeland security is trying to sustain the fire department in detroit. we're talking about a series of bailouts that continue in order to keep detroit proposed up. i don't know how long that is sustainable. >> the movecy called "detropia." you just made the academy awards documentary short list. congratulations on that. >> thank you. >> good luck with it. >>> we've got to take a short break. just ahead, we'll talk syria. we'll discuss that. space needle, pot party there broke out there right at midnight. i wonder why. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woma
. president, and use your mandate to bring this country together to stop us from becoming greece. >> okay. there we go. some advice there for the president. >>> here with us now former white house counselor for president bush. ceo of the consulting firm, hill and milton strategies. dan bartlett back at the table. good to have you this morning. a couple must reads to look at. >> you can ask a question if i can ask rattner a question. you go first. >> when are you going to man up? what happened, man? we republicans, we used to drive liberals crazy. we'd win elections we shouldn't win. we would steal senate seats we should never steal. we would shock -- they never saw it coming. willie geist talked about the morning after the 2004 election, you had liberals on the upper west sidewalking around like zombies. some of them walked straight into the hudson river. that doesn't happen. we're not the smart party, we're the stupid party. what happened? >> well, there's that. >> what happened in '12? how did we perform so badly? is it our tactics? >> well, the primary process obviously didn't help us
to improve. if you look at countries as lindsey graham said, look at greece and countries like that, you don't want america to be plunged into that almost insolvable crisis. they were sensible and very funny together. a lot of very quiet exchanges with me about the constitution about gay rights and gun control and obviously i come from a country where almost everything is federal in the terms of you have a law for a country. i said in gay marriage, are you going to have a situation with guns where almost every state has different regulations. is it not time in america, perhaps truly was united on these big issues which in the end are about fairness and equality as with gay rights. they weren't having any of that. it gets lively. >> the full interview tonight at 9:00 p.m. eastern. "piers morgan tonight." please come back and visit. >> this is why you get the bond movies and i end up with denzel castoffs. >> some days you may be in a james bond movie too. >> the worst moment of my career was taking my wife to see the bond movie and see your head rear up as the star of the film. >> some day. >>
? greece has been very good at ignoring their debt ceiling and now they have 25% unemployment, 50% youth unemployment. you have young people having to leave the cities to go to the country to engage in subsistence agriculture. so that's what happens when you ignore your debt ceiling. >> gretchen: okay. congressman, i got to wrap it up there. if you actually is to hang your stocking there, i might have to send you some champagne, too. sorry about that. >> please do. >> gretchen: congressman, have a great rest of the day and merry christmas to you. >> thank you. >> gretchen: coming up, news week declares that the war on christmas is over. so is that true? we report. you can decide. then thousands of people about to lose their homes because the government wants to regulate rain. yep. bulldoze the houses and plant a little grass. is that the answer? that's coming up. you can't argue with nutrition you can see. great grains. great grains cereal starts whole and stays whole. see the seam? more pcessed flakes look nothing like natural grains. i'm eating what i kn is better nutrition. mmmm. grea
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